Allens Arthur Robinson

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While the decisions in three recent Federal Court cases deliver mixed results for taxpayers, they offer guidance on the application of Part IVA of the Income Tax Assessment Act 1936 (Cth). The Citigroup case is particularly relevant to multinationals and finance entities. Partners Charles Armitage and Malcolm Stephens and Senior Associate Chris Peadon report

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The Federal Government has announced that it proposes to replace the previously announced Resource Super Profits Tax with a new Minerals Resource Rent Tax that will apply to iron ore and coal projects, and to extend the scope of the existing Petroleum Resource Rent Tax to cover onshore oil and gas projects. Partner Katrina Parkyn and Senior Associate Rory O'Brien report on how the new Minerals Resource Rent Tax responds to industry's key concerns about the previous Resource Super Profits Tax, and what the extension of the Petroleum Resource Rent Tax is likely to mean for onshore oil and gas projects in Australia

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The risks associated with membership of a GST group are reduced and joining and leaving a GST group is easier under new rules introduced by the Tax Laws Amendment (2010 GST Administration Measures No. 2) Act 2010 (Cth). Partner Ross Stitt and Lawyer Adam Ahmed report

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After weeks of debate and negotiation, the Federal Government has made significant changes to its proposed Resources Super Profits Tax. Partner Katrina Parkyn speaks to Boardroom Radio about the changes to the tax, now known as the Minerals Resource Rent Tax

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Employers will need to provide information on employee share schemes to both employees and the Australian Taxation Office over the next month. Partner Sarah Bernhardt speaks to Boardroom Radio about the potential issues arising out of these new reporting requirements and what employers need to do to make sure they meet the deadlines

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The Australian Taxation Office recently released a revised booklet on tax compliance issues for large businesses. It outlines the ATO's expectations of large businesses, its areas of focus and processes to ensure their tax compliance. Partners Ross Stitt and Malcolm Stephens and Senior Associate Chris Peadon report

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The NSW Government will abolish the insurance protection tax from 1 July 2011. The tax will still be payable in respect of premiums received by an insurer up to that date. However, after 1 July 2011, and once all liabilities are met, any remaining money will be refunded to insurers on a pro rata basis. Partner Adrian Chek and Lawyer Isaac Gibbs report

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While debate continues over the merits of a Resource Super Profits Tax, a similar tax placed on petroleum projects has been in place in Australia for more than two decades. Partner Grant Cathro speaks to Boardroom Radio about the lessons that can be learned from the construction and implementation of the Petroleum Resource Rent Tax

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A new research and development tax incentive regime is set to begin on 1 July 2010. Partner Toby Knight speaks to Boardroom Radio about the changes and what businesses need to do to be ready on 1 July

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The Federal Government has announced a range of GST measures in the latest Budget. They are primarily the result of various reviews arising out of the Board of Taxation's Review of the Legal Framework for the Administration of the GST. Partner Ross Stitt looks at the key announcements which relate to the financial supply provisions, the margin scheme and cross-border transactions

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The Federal Government announced a number of reforms to the financial sector in the Federal Budget, including changes to interest withholding tax. Partner Larry Magid speaks to Boardroom Radio about the impact of the changes

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The Federal Government has announced the formulation of a new tax system for managed investment trusts, to begin next year. Partner Martin Fry speaks to Boardroom Radio about the implications of the new regime for trustees and beneficiaries

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As part of its response to the Henry tax review, the Federal Government has announced that it intends to introduce a refundable tax offset for eligible exploration expenditure. Senior Associate Katrina Parkyn looks at how the offset will work and who will benefit

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The Government announced some significant unexpected changes to the taxation of employee share plans as part of the May 2009 Federal budget, which were then significantly revised. Legislation introducing those changes became law on 14 December 2009. Partner Sarah Bernhardt looks at the changes on a plan-by-plan basis, focusing on the key issues that arise under different kinds of plans

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The Henry Tax Review has outlined the need for a tax on super profits generated by mining and resources companies. Partner Grant Cathro speaks to Boardroom Radio about how the tax will work and the potential implications

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The Federal Government has announced that it intends to introduce a resource super profits tax as the centrepiece of the tax reforms announced as part of the Henry Review. Although the new tax bears some similarity to the existing Petroleum Resource Rent Tax which applies to many off-shore petroleum projects, it differs in a number of very significant respects. Partner Grant Cathro and Senior Associate Rory O'Brien report

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Partner Charles Armitage speaks to Boardroom Radio about the major issues to come out of the Henry tax review

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The Federal Government has released its response to the Productivity Commission's inquiry into executive remuneration in Australia. Partner Paul Quinn reports

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The Henry Tax Review is widely expected to recommend that the Commonwealth Government introduce a resource rent tax for all mining and petroleum operations within Australia. Partner Grant Cathro and Lawyer Ada Lam explain how a resource rent tax would operate, and consider some of the issues that are likely to arise from its implementation

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The High Court handed down today its long-awaited decision in Bamford v Commissioner of Taxation. Partner Tony Sheehan speaks to Boardroom Radio about the High Court's decision and what it means for both the managed funds industry and taxpayers

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Partner Martin Fry provides an analysis of the recent developments in the recoupment of prior year company losses

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Partner Michael Rigby looks at two new important tax draft determinations released by the ATO yesterday dealing with foreign investors in Australian assets

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The Federal Assistant Treasurer has released exposure draft legislation on the taxation of gains and losses on the disposal of investments by managed investment trusts. Under the proposed legislation, trustees of eligible managed investment trusts will be able to elect capital account treatment for gains and losses on certain assets. Partner Michael Rigby and Lawyer Jonathan Lee report

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Many Australian companies have this year used rights issues to raise capital. Allens Tax Partner Martin Fry speaks to Boardroom Radio about the controversy surrounding the Australian Taxation Office's treatment of renounceable rights issues and the impact this has had on Australian companies and their shareholders

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Partner Martin Fry discusses recent trends in the tax aspects of mergers and acquisitions, focusing on scrip for scrip rollover and cost base push down, retail premiums in renounceable rights issues, and special dividends paid as part of a takeover bid

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Treasury has released exposure draft legislation that is designed to resolve long-standing difficulties with the continuity of ownership test rules for the utilisation of company losses. The proposed legislation will have significant implications for companies with multiple classes of shares on issue that are seeking to utilise prior year losses for tax purposes. Partner Martin Fry reports

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The Government has released draft legislation containing new tax rules applying to employee share awards. Partner Sarah Bernhardt speaks to Boardroom Radio on the implications of the changes for employee share schemes

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The Federal Government's tax review panel is planning to meet Infrastructure Australia to discuss ways to increase private sector investment in infrastructure. Partner and tax law specialist Charles Armitage speaks to Boardroom Radio about the different options that the Federal Government may explore to boost private sector interest in infrastructure

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In an attempt to reverse the effects of a recent court decision, the Federal Government has released draft legislation intended to make the representative of an incapacitated entity (and not the incapacitated entity) liable for GST on supplies made by the incapacitated entity. Partner Michael Perez, Senior Associate Chris Peadon and Lawyer Gulfam Ahmed report

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Partner Sarah Bernhardt provides an overview of the Federal Government's proposed employee share scheme reforms

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Assistant Treasurer Nick Sherry released draft legislation to reverse a Federal Court decision in relation to GST liabilities for companies in liquidation. Partner Michael Perez speaks to Boardroom Radio about the details of the draft legislation

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The NSW Court of Appeal has affirmed an earlier decision that means that insureds may be entitled to a refund of stamp duty paid on general insurance effected in New South Wales prior to 20 June 2006 with persons who were not registered or authorised general insurers under the Insurance Act 1973 (Cth). Partners Adrian Chek and Malcolm Stephens and Senior Associate Chris Peadon report on this decision

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After seven months of uncertainty, the controversial Duties Amendment Bill 2008 (Vic) (as amended) received Royal Assent on 7 July 2009. The changes to the stamp duty law have significant implications for dealings in dutiable property in Victoria, and apply retrospectively from 21 November 2008. Partner Tony Sheehan and Senior Associate Jennee Chan report

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A recent decision of the Federal Court addresses the nature of supplies made in the provision of charge cards and credit cards. It is a significant early step in what is likely to be a sometimes tortuous journey - the judicial interpretation of Australia's financial supply rules. It may turn out to have implications well beyond credit cards. Partner Ross Stitt reports

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The current land rich regime in NSW will be replaced by new landholder rules that significantly expand the base for assessing duty on the transfer of companies and unit trusts, including listed entities, that hold land in that state. The new rules will potentially also increase the amount of duty payable. Partner Tony Sheehan and Senior Associate Heran Kim report

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The New South Wales Government announced in its state budget a range of new property concessions. Partner Adrian Chek speaks to Boardroom Radio about what the changes will mean for NSW property owners

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A Bill has been introduced into the NSW Parliament that proposes to make major changes to NSW mortgage duty, with effect from 1 July 2009. Borrowers with existing or potential security arrangements over NSW property, and who are intending to drawdown or grant security on or after 1 July 2009, should urgently review their existing or proposed arrangements. Partners Adrian Chek and Tony Sheehan report

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The proposed changes to employee share and option plans has caused an uproar from both business and unions. Partner Sarah Bernhardt speaks to Boardroom Radio about the impact of these changes

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The Northern Territory Government recently released its budget for 2009-10, which announced a number of changes to stamp duty in the NT, including the imposition of landholder duty on the acquisition of listed companies and trusts. Taxpayers are also reminded that, with effect from 1 July 2009, NSW will be introducing new and broader landholder provisions, and South Australia will be abolishing mortgage and rental business duty. Partner Adrian Chek, Senior Associate Katrina Parkyn and Law Graduate Gobind Kalsi look at the proposed NT changes and at how they will affect taxpayers

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Amid the global recession and significant negative public sentiment against excessive executive remuneration practices, the Federal Government has mandated the Productivity Commission to examine Australia's framework for executive remuneration, including the tax treatment of equity based remuneration. In addition, the Government has proposed reforms to significantly broaden the circumstances in which shareholder approval of executive termination payments is required. Partner Sarah Bernhardt and Senior Associate Gaibrielle Germanos examine the taxation aspects of the reform proposals

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The Full Federal Court has held that the anti-dividend stripping provision applies to a broader range of circumstances than might be suggested by earlier Full Federal Court and High Court decisions. Partner Charles Armitage and Senior Associate Chris Peadon report

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The controversial proposed changes to Victoria's stamp duty regime have failed to become law, for now. However, the period of uncertainty for taxpayers continues. Partner Tony Sheehan and Senior Associate Jennee Chan consider the current status of dealings in dutiable property in Victoria

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Our recent Focus: Tax risks for business purchasers and investors analysed recent cases that highlighted the risk that certain expected tax benefits may be denied as a result of decisions made about the structure and operation of a business. The Full Federal Court has this week handed down judgment in appeals from two of those decisions, in one case reversing the earlier decision. Partner Charles Armitage, Senior Associate Chris Peadon and Lawyer Gulfam Ahmed report on the implications for taxpayers

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Some recent court decisions highlight the risk that certain tax benefits (such as tax losses and franking credits), which might be expected to be available, may be denied as a result of decisions made (often some years earlier) concerning the structure and operation of a business, the manner in which capital is injected, or because of a mistaken view of the tax law. Partner Charles Armitage and Senior Associate Chris Peadon report

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Following on from our summary of the Federal Government's White Paper on its Carbon Pollution Reduction Scheme, Australia's Low Pollution Future, Partner Grant Cathro and Lawyer Penny Alexander discuss in detail the tax consequences of the proposed Scheme. This is the eighth in a series of articles that examines in more depth the principal proposals contained in the White Paper

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Recent court decisions highlight the potential risks of acting on common assumptions concerning the Australian Tax Office's use of confidential taxpayer information and the scope of the protection provided by a private binding ruling. Partner Malcolm Stephens and Senior Associate Chris Peadon from our Tax Dispute Group discuss these risks

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A draft consultation paper released by the Queensland Government indicates that the prohibition on recovering land tax from tenants of leased commercial premises will be removed from the Land Tax Act 1915. Special Counsel Christine Adamson and Partner Grant Higgins look at how this change will affect both landlords and tenants, particularly those currently negotiating new leases that may not be finalised before 30 June 2009

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A recent Federal Court case has dealt with the issue of whether a liquidator is personally liable for GST payable on supplies made while a company is being wound up. Partner Ross Stitt and Summer Clerk David Allen report

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Since 2001, Australia has renegotiated its double tax treaties with some of its major trading partners. In mostcases, the revised treaty contains an exemption from interest withholding tax that would otherwise be payable by an Australian borrower where the interest is derived by a financial institution (as defined in the treaty) resident in the country with which Australia has the relevant double tax treaty, or by the government or central bank of that country. Senior Associate Thomas McAuliffe and Partner Charles Armitage review the current state of play